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Updated almost 5 years ago, 03/31/2020

User Stats

128
Posts
33
Votes
Robert Obniski
  • Investor
  • Madison, WI
33
Votes |
128
Posts

Can I cite this Pandemic to back out of a deal?

Robert Obniski
  • Investor
  • Madison, WI
Posted

I have a property under contract where the numbers work and its all good etc.

It will stretch my cash reserves if I go through with the deal because looking through the lease agreements 90% of the tenants work in jobs that are closed for 30 days. And it's not like day 31 I get my rent checks either. 

Im in the position I would rather sit on my cash for a few months than deal with the stress and weight of all this going on.

My questions is, Can I legally back out of this contract citing a "Pandemic" "Act of God" or something like that??


Need Help!! 

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